Taxmann's Guide to Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) : As amended by Finance Act 2022 / Taxmann.

Format:

Book

Author/Creator:

Taxmann, author.

Language:

English

Subjects (All):

Corporations--Taxation--Law and legislation.

Corporations.

Physical Description:

1 online resource (466 pages)

Edition:

Second edition.

Place of Publication:

New Delhi, India : Taxmann Publications (P.) Ltd., [2022]

Summary:

This book provides a comprehensive analysis of Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT). The analysis is done in light of the Income-tax Act 1961, Income-tax Rules 1962, and Relevant Case Laws. This book is amended by the Finance Act 2022.

Contents:

Cover

Title

Chapter-Heads

Contents

DIVISION ONE : MINIMUM ALTERNATE TAX (MAT)

INTRODUCTION

History of Minimum Alternate Tax (MAT)

Rationale for MAT

Salient features of MAT Regime u/s 115JB

MAT payable

WHO IS LIABLE TO PAY MAT

Who is liable to pay MAT

“Company”

MAT is applicable to LLPs incorporated outside India (Foreign LLPs), not to Indian LLPs

Applicability of MAT to Foreign Companies

MAT not applicable to income from life insurance business

Company exempted from MAT if it has opted for the tax regime under section 115BAA or section 115BAB

Section 115BAA : Tax on income of certain domestic Companies

Low tax rate regime under section 115BAB for new manufacturing companies?

Applicability of MAT to shipping companies covered by Tonnage Tax Scheme

Where company has no taxable income but has a positive book profit

Where company has negative net profit as per its P&L account but has a positive book profit

Where company has positive net profit and taxable income but negative book profit

Applicability to assessees covered by presumptive tax provisions

Exemption to sick industrial companies

MAT not applicable where company incurring commercial losses not attributable to tax incentives

Applicability of MAT to section 25 companies (now section 8 Companies) and mutual concerns

Applicability of MAT to company eligible for tax holiday

Applicability of MAT to company whose total income is Nil

When liability to MAT arises? Generated by AI.

Notes:

Description based on publisher supplied metadata and other sources.

Description based on print version record.

Part of the metadata in this record was created by AI, based on the text of the resource.

Other Format:

Print version: Taxmann Taxmann's Guide to Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT)

ISBN:

9789356221062